Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

This question refers to Coillte. I am somewhat limited in what I can say, apart from what I have said many times, which is that the Government made a decision last summer to look in some detail at the viability of the sale of timber harvesting rights currently owned by Coillte. That process has included my Department, NewERA, the Department of Public Expenditure and Reform and the board of Coillte. There have been at least three if not four, valuations of that timber. Other considerations include issues relating to the Coillte pension fund, Coillte debt and the future viability of a company when an asset as significant as harvesting rights is removed. Another consideration is the public asset for which Coillte is responsible and how that may be affected in terms of public access to lands. Also, the broader timber industry relies predominantly on Coillte as almost a monopoly supplier. A total of 80% to 85% of all timber for the sawmills industry comes from Coillte forests. This was a very complex process of considering how we might take this forward and how the State might get value from this asset at a time when money needs to be raised.

Regardless of what other Ministers have said in this House, I wish to inform the Deputy that along with my colleague, the Minister for Public Expenditure and Reform, Deputy Howlin, I will bring to Government a report on the process to date and a set of recommendations on which the Government will make a decision. I hope to do this in the next fortnight.

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